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- Thread starter hii a_ooiioo_a
- Start date
I might change the name to Options & SSF, or something like that. But I should be there.
I have deleted my cost of carry excel spreadsheet by mistake.
I do not want the hassle of reproducing it... does anyone have one they can post for me.
Just a simple enter the dividend and the interest rate and have it generate the cost of carry for different strkes for given days til' expiration.
Thanks,
I do not want the hassle of reproducing it... does anyone have one they can post for me.
Just a simple enter the dividend and the interest rate and have it generate the cost of carry for different strkes for given days til' expiration.
Thanks,
November 12, 2002
IB Notification
US Options Cancellation Fees
Dear IB Trader:
Recently the US Options Exchanges imposed fees for the cancellation or
modification of option orders. As such, IB needs to pass these fees on
to our customers. Effective Wednesday, November 13th, IB will charge
$1.20 for each US directed option order cancel or modification. This fee
will not apply to smart routed orders. For each option order that is
executed during the day, IB will provide a credit of $1.20 against the
cancellation/modification fees for the day.
Interactive Brokers
IB Notification
US Options Cancellation Fees
Dear IB Trader:
Recently the US Options Exchanges imposed fees for the cancellation or
modification of option orders. As such, IB needs to pass these fees on
to our customers. Effective Wednesday, November 13th, IB will charge
$1.20 for each US directed option order cancel or modification. This fee
will not apply to smart routed orders. For each option order that is
executed during the day, IB will provide a credit of $1.20 against the
cancellation/modification fees for the day.
Interactive Brokers
It's good that they notified us, in advance. Although as little in advance as possible.
I had the impression that the reason direct-routed orders cost $1.95 was because of cancellation fees at the exchanges.
What's the advantage to them of having us use smart? Wouldn't smart routing create more cancellations, when the system reroutes from one exchange to a better price at another exchange?
I had the impression that the reason direct-routed orders cost $1.95 was because of cancellation fees at the exchanges.
What's the advantage to them of having us use smart? Wouldn't smart routing create more cancellations, when the system reroutes from one exchange to a better price at another exchange?
They don't get a rebate on filled orders like they suggest; they are charged $1 for every cancel if their overall cancels exceed 50%. The fee from the exchanges is $1, not $1.20; unless something has changed or my memory is faulty.
I seem to remember that the cancel fees might have been at the discretion of the DPM. If that is the case, maybe they are routing to the exchange where they are the DPM.
If not, I suppose they analyzed their order flow and that formula fit in their business model.
I seem to remember that the cancel fees might have been at the discretion of the DPM. If that is the case, maybe they are routing to the exchange where they are the DPM.
If not, I suppose they analyzed their order flow and that formula fit in their business model.
